Financial ModellingBlog

Reviewing your models

ClusterSeven and F1F9 join forces to help check, review and enhance financial models.

ClusterSeven recently announced on their website that we will be partenering with them to provide an extended model review service, using ClusterSeven’s Cloud Spreadsheet Manager (CSM) technology. As part of the solution we will be offering our customers a self-service monitoring capability for business-critical spreadsheet models and files.

Commenting on the partnership, Morten Siersted, Founder and Director at F1F9 said: “Spreadsheets are powerful, and often the preferred tool for business modelling. But because Excel is easy to use, it can easily be used badly, which presents a potential risk to the business.

“Over the years we have seen the management and audit of spreadsheets develop. At first, spreadsheet review was done almost on a cell-by-cell basis. The next step was to introduce shadow modelling, where parallel models are used to validate modelling results, using the same inputs. We see ClusterSeven’s CSM tool as the next stage of evolution in model validation. CSM enables serious Excel users and modellers to simplify and streamline their business processes, by removing the burden of time and resources spent reviewing and documenting changes in spreadsheet models.

“The on-demand service uses a secure cloud-based environment and enables us to interact and collaborate quickly and effectively with our clients. This delivers our clients more flexibility and increased control whilst extending F1F9’s bandwidth, to provide a better service.”

Next week Morten will be presenting a webinar with ClusterSeven explaining why F1F9 has chosen to use ClusterSeven as part of our modelling service.

Morten will be discussing the developments he has seen over the years in the build and audit of spreadsheet models and how he sees Cloud Spreadsheet Manager as the next evolutionary step in model validation.

This webinar is intended for ClusterSeven partners only initially. We will keep you updated on our progress with this partnership.

Morten founded F1F9 in 1999. At F1F9 he has helped create a uniquely transparent, efficient, maintainable, and comprehensive spreadsheet modelling methodology, now known as the FAST Standard.
In 2005, he set up the world's first offshore modelling team in New Delhi, now one of the largest and most competitive global spreadsheet modelling resources. He has played a key role in developing the FAST Standard, including setting up the FAST Standard Organisation in 2011.